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ground troops, unfortunately, had more pressing concerns than existential responsibility. They did not have leisure, unlike their commanders, who also often had the philosophical training to think through the complexities of their jobs.

This training was not simply a degree requirement at Officer Candidate School or one of the United States military academies, but a sustained, ongoing, and rigorous engagement with a philosophical tradition. Alexander lived with Aristotle.

, Jeff McMahan argued that traditional “just war theory” should be reworked in several important ways. He suggested that the tenets of a revised theory apply not only to governments, traditionally represented by commanders and heads of state, but also to individual soldiers. This is a significant revision since it broadens the scope of responsibility for warfare

McMahan believes that individuals are to bear at least some responsibility in upholding “just cause” requirements. McMahan expects more of soldiers and, in this age of drones and leisure, he is right to do so.

while drones are to be applauded for keeping these soldiers out of harm’s way physically, we would do well to remember that they do not keep them out of harm’s way morally or psychologically. The high rates of “burnout” should drive this home. Supporting our troops requires ensuring that they are provided not just with training and physical armor, but with the intellectual tools to navigate these new difficulties.

Just as was the case in the invasion of Iraq 10 years ago, the most important questions we should be asking should not be directed to armchair soldiers but to those of us in armchairs at home: What wars are being fought in our name? On what grounds are they being fought?

The leader who does good things cannot always be good himself. Sometimes bad acts produce good outcomes. Sometimes a leader has to love his country more than his soul.

Since a leader is forced by circumstances to do morally suspect things, Machiavelli at least wants him to do them effectively

When you read Machiavelli, you realize how lucky we are. Unlike 16th-century Florence, we have a good Constitution that channels conflict. We have manners, respect for law and social trust that softens behavior, at least a bit. Even in the realm of foreign affairs, we’ve inherited an international order that restrains conflict. Our ancestors behaved savagely to build our world, so we don’t have to.

But it’s still not possible to rule with perfectly clean hands. There are still terrorists out there, hiding in the shadows and plotting to kill Americans. So even today’s leaders face the Machiavellian choice: Do I have to be brutal to protect the people I serve? Do I have to use drones, which sometimes kill innocent children, in order to thwart terror and save the lives of my own?

When Barack Obama was a senator, he wasn’t compelled to confront the brutal logic of leadership. Now in office, he’s thrown into the Machiavellian world. He’s decided, correctly, that we are in a long war against Al Qaeda; that drone strikes do effectively kill terrorists; that, in fact, they inflict fewer civilian deaths than bombing campaigns, boots on the ground or any practical alternative; that, in fact, civilian death rates are dropping sharply as the C.I.A. gets better at this. Acting brutally abroad saves lives at home.

Machiavelli tells us that men are venal self-deceivers, but then he gives his Prince permission to do all these monstrous things, trusting him not to get carried away or turn into a monster himself.

Our founders were more careful. Our founders understood that leaders are as venal and untrustworthy as anybody else. They abhorred concentrated power, and they set up checks and balances to disperse it.

If you take Machiavelli’s tough-minded view of human nature, you have to be brutal to your enemies — but you also have to set up skeptical checks on the people you empower to destroy them.

No longer were they just tribal men fighting to preserve their way of life; they started dreaming they could convert everyone to it.

When Mehsud was killed, instead of celebrating or letting out quiet sighs of relief, politicians and journalists reacted as if they had lost a favorite son. He had killed many of us, but we weren’t craving vengeance; we were ready to make up and cuddle.

Why does Pakistan’s political and military élite celebrate the very people it is fighting? The logic—or its absence—goes like this: Hakimullah Mehsud was our enemy. But the United States is also our enemy. So how dare the Americans kill him? And how dare they kill him when we had made up our minds to talk to him? If the United States is talking to the Afghan Taliban, why can’t we talk to our own Taliban?

he popular narrative in Pakistan holds that the Taliban’s fight is simply a reaction to American drone strikes: it’s a war between American kids sitting in front of LCD screens eating their TV dinners and our own men in the north, who are better Muslims than we are.

Pakistan’s rulers have developed a strange fetish for lionizing its tormenters.

“This is not just the killing of one person,” Pakistan’s interior minister, Chaudhry Nisar Ali Khan, said. “It’s the death of all peace efforts.”

As a result, we now have a raging national debate, in which serious-minded journalists are asking even more serious-minded politicians and religious scholars if the godless Soviet soldiers killed by American-funded mujahideen in Afghanistan in the nineteen-eighties should also be declared martyrs.

the subject is taught bafflingly minimally and late in the curriculum even today; evolution by natural selection is crucial to every aspect of the living world. In the words of the Russian scientist Theodosius Dobzhansky: “Nothing in biology makes sense except in the light of evolution.”

his true legacy is The Selfish Gene and its profound effect on multiple generations of scientists and lay readers. In a sense, The Selfish Gene and Dawkins himself are bridges, both intellectually and chronologically, between the titans of mid-century biology – Ronald Fisher, Trivers, Hamilton, Maynard Smith and Williams – and our era of the genome, in which the interrogation of DNA dominates the study of evolution.

Genes aren’t what they used to be either. In 1976 they were simply stretches of DNA that encoded proteins. We now know about genes made of DNA’s cousin, RNA; we’ve discovered genes that hop from genome to genome

Since 1976, our understanding of why life is the way it is has blossomed and changed. Once the gene became the dominant idea in biology in the 1990s there followed a technological goldrush – the Human Genome Project – to find them all.

None of the complications of modern genomes erodes the central premise of the selfish gene.

Much of the enmity stems from people misunderstanding that selfishness is being used as a metaphor. The irony of these attacks is that the selfish gene metaphor actually explains altruism. We help others who are not directly related to us because we share similar versions of genes with them.

In the scientific community, the chief objection maintains that natural selection can operate at the level of a group of animals, not solely on genes or even individuals

To my mind, and that of the majority of evolutionary biologists, the gene-centric view of evolution always emerges intact.

the premise remains exciting that a gene’s only desire is to reproduce itself, and that the complexity of genomes makes that reproduction more efficient.

The new history of capitalism is less a movement than what proponents call a “cohort”: a loosely linked group of scholars who came of age after the end of the cold war cleared some ideological ground, inspired by work that came before but unbeholden to the questions — like, why didn’t socialism take root in America? — that animated previous generations of labor historians.

the crisis hit, and people started asking, ‘Oh my God, what has Wall Street been doing for the last 100 years?’ ”

While most scholars in the field reject the purely oppositional stance of earlier Marxist history, they also take a distinctly critical view of neoclassical economics, with its tidy mathematical models and crisp axioms about rational actors.

The history of capitalism has also benefited from a surge of new, economically minded scholarship on slavery, with scholars increasingly arguing that Northern factories and Southern plantations were not opposing economic systems, as the old narrative has it, but deeply entwined.

In a paper called “Toxic Debt, Liar Loans and Securitized Human Beings: The Panic of 1837 and the Fate of Slavery,” Edward Baptist, a historian at Cornell, looked at the way small investors across America and Europe snapped up exotic financial instruments based on slave holdings, much as people over the past decade went wild for mortgage-backed securities and collateralized debt obligations — with a similarly disastrous outcome.

Conservatives were at a disadvantage because Romney supporters like Jennifer Rubin and Hugh Hewitt saw it as their duty to spin constantly for their favored candidate rather than being frank about his strengths and weaknesses.

Conservatives were at an information disadvantage because so many right-leaning outlets wasted time on stories the rest of America dismissed as nonsense. WorldNetDaily brought you birtherism. Forbes brought you Kenyan anti-colonialism. National Review obsessed about an imaginary rejection of American exceptionalism, misrepresenting an Obama quote in the process, and Andy McCarthy was interviewed widely about his theory that Obama, aka the Drone Warrior in Chief, allied himself with our Islamist enemies in a "Grand Jihad" against America. Seriously? 

Conservatives were at a disadvantage because their information elites pandered in the most cynical, self-defeating ways, treating would-be candidates like Sarah Palin and Herman Cain as if they were plausible presidents rather than national jokes who'd lose worse than George McGovern.

How many hours of Glenn Beck conspiracy theories did Fox News broadcast to its viewers? How many hours of transparently mindless Sean Hannity content is still broadcast daily? Why don't Americans trust Republicans on foreign policy as they once did? In part because conservatism hasn't grappled with the foreign-policy failures of George W. Bush. A conspiracy of silence surrounds the subject. Romney could neither run on the man's record nor repudiate it.

Most conservative pundits know better than this nonsense -- not that they speak up against it. They see criticizing their own side as a sign of disloyalty. I see a coalition that has lost all perspective, partly because there's no cost to broadcasting or publishing inane bullshit. In fact, it's often very profitable. A lot of cynical people have gotten rich broadcasting and publishing red meat for movement conservative consumption.

On the biggest political story of the year, the conservative media just got its ass handed to it by the mainstream media. And movement conservatives, who believe the MSM is more biased and less rigorous than their alternatives, have no way to explain how their trusted outlets got it wrong, while the New York Times got it right. Hint: The Times hired the most rigorous forecaster it could find.   It ought to be an eye-opening moment.   

Even doctors—those whose business is to treat others humanely— can remain disengaged from the minds of their patients, particularly when those patients are easily seen as different from the doctors themselves. Until the early 1990s, for instance, it was routine practice for infants to undergo surgery without anesthesia. Why? Because at the time, doctors did not believe that infants were able to experience pain, a fundamental capacity of the human mind.

Your sixth sense functions only when you engage it. When you do not, you may fail to recognize a fully human mind that is right before your eyes.

Although it is indeed true that the ability to read the minds of others exists along a spectrum with stable individual differences, I believe that the more useful knowledge comes from understanding the moment-to-moment, situational influences that can lead even the most social person—yes, even you and me—to treat others as mindless animals or objects.

None of the cases described in this chapter so far involve people with chronic and stable personality disorders. Instead, they all come from predictable contexts in which people’s sixth sense remained disengaged for one fundamental reason: distance.

For psychologists, distance is not just physical space. It is also psychological space, the degree to which you feel closely connected to someone else. You are describing psychological distance when you say that you feel “distant” from your spouse, “out of touch” with your kids’ lives, “worlds apart” from a neighbor’s politics, or “separated” from your employees. You don’t mean that you are physically distant from other people; you mean that you feel psychologically distant from them in some way

Distance keeps your sixth sense disengaged for at least two reasons. First, your ability to understand the minds of others can be triggered by your physical senses. When you’re too far away in physical space, those triggers do not get pulled. Second, your ability to understand the minds of others is also engaged by your cognitive inferences. Too far away in psychological space—too different, too foreign, too other—and those triggers, again, do not get pulled

This three-part chain—sharing attention, imitating action, and imitation creating experience—shows one way in which your sixth sense works through your physical senses. More important, it also shows how your sixth sense could remain disengaged, leaving you disconnected from the minds of others. Close your eyes, look away, plug your ears, stand too far away to see or hear, or simply focus your attention elsewhere, and your sixth sense may not be triggered.

Interviews with U.S. soldiers in World War II found that only 15 to 20 percent were able to discharge their weapons at the enemy in close firefights. Even when they did shoot, soldiers found it hard to hit their human targets. In the U.S. Civil War, muskets were capable of hitting a pie plate at 70 yards and soldiers could typically reload anywhere from 4 to 5 times per minute. Theoretically, a regiment of 200 soldiers firing at a wall of enemy soldiers 100 feet wide should be able to kill 120 on the first volley. And yet the kill rate during the Civil War was closer to 1 to 2 men per minute, with the average distance of engagement being only 30 yards.

Modern armies now know that they have to overcome these empathic urges, so soldiers undergo relentless training that desensitizes them to close combat, so that they can do their jobs. Modern technology also allows armies to kill more easily because it enables killing at such a great physical distance. Much of the killing by U.S. soldiers now comes through the hands of drone pilots watching a screen from a trailer in Nevada, with their sixth sense almost completely disengaged.

Other people obviously do not need to be standing right in front of you for you to imagine what they are thinking or feeling or planning. You can simply close your eyes and imagine it.

The MPFC and a handful of other brain regions undergird the inferential component of your sixth sense. When this network of brain regions is engaged, you are thinking about others’ minds. Failing to engage this region when thinking about other people is then a solid indication that you’re overlooking their minds.

Research confirms that the MPFC is engaged more when you’re thinking about yourself, your close friends and family, and others who have beliefs similar to your own. It is activated when you care enough about others to care what they are thinking, and not when you are indifferent to others

As people become more and more different from us, or more distant from our immediate social networks, they become less and less likely to engage our MPFC. When we don’t engage this region, others appear relatively mindless, something less than fully human.

The mistake that can arise when you fail to engage with the minds of others is that you may come to think of them as relatively mindless. That is, you may come to think that these others have less going on between their ears than, say, you do.

It’s not only free will that other minds might seem to lack. This lesser minds effect has many manifestations, including what appears to be a universal tendency to assume that others’ minds are less sophisticated and more superficial than one’s own. Members of distant out-groups, ranging from terrorists to poor hurricane victims to political opponents, are also rated as less able to experience complicated emotions, such as shame, pride, embarassment, and guilt than close members of one’s own group.

himpanzees recognized as legal persons, with a right to liberty, albeit a liberty with considerable limits.

ugh it is crucial to the central idea — that chimps are in some sense autonomous. Autonomy can mean different things, depending on whether you are talking about chimpanzees, drones or robot vacuum cleaners, and whether you are using the language of law, philosophy or artificial intelligence.

cience can’t be decisive in such an argument, as Dr. Gruen points out, but what it can do is support or undermine this idea of autonomy. “If you form the right kinds of questions,” she said, “there are important answers that science can give about animal cognition and animal behavior

ne point to remember is that personhood does not mean being human

I think the evidence certainly suggests that chimps are self-aware and autonomous.

“the consequences of global warming for their grandchildren’s grandchildren, or of the sun eventually dying, or of them eventually dying.”

The single existential risk that Tegmark worries about most is unfriendly artificial intelligence. That is, when computers are able to start improving themselves, there will be a rapid increase in their capacities, and then, Tegmark says, it’s very difficult to predict what will happen.

Tegmark told Lex Berko at Motherboard earlier this year, "I would guess there’s about a 60 percent chance that I’m not going to die of old age, but from some kind of human-caused calamity. Which would suggest that I should spend a significant portion of my time actually worrying about this. We should in society, too."

"Longer term—and this might mean 10 years, it might mean 50 or 100 years, depending on who you ask—when computers can do everything we can do," Tegmark said, “after that they will probably very rapidly get vastly better than us at everything, and we’ll face this question we talked about in the Huffington Post article: whether there’s really a place for us after that, or not.”

"This is very near-term stuff. Anyone who’s thinking about what their kids should study in high school or college should care a lot about this.”

Tegmark and his op-ed co-author Frank Wilczek, the Nobel laureate, draw examples of cold-war automated systems that assessed threats and resulted in false alarms and near misses. “In those instances some human intervened at the last moment and saved us from horrible consequences,” Wilczek told me earlier that day. “That might not happen in the future.”

there are still enough nuclear weapons in existence to incinerate all of Earth’s dense population centers, but that wouldn't kill everyone immediately. The smoldering cities would send sun-blocking soot into the stratosphere that would trigger a crop-killing climate shift, and that’s what would kill us all

“We are very reckless with this planet, with civilization,” Tegmark said. “We basically play Russian roulette.” The key is to think more long term, “not just about the next election cycle or the next Justin Bieber album.”

“There are several issues that arise, ranging from climate change to artificial intelligence to biological warfare to asteroids that might collide with the earth,” Wilczek said of the group’s launch. “They are very serious risks that don’t get much attention.

a widely perceived issue is when intelligent entities start to take on a life of their own. They revolutionized the way we understand chess, for instance. That’s pretty harmless. But one can imagine if they revolutionized the way we think about warfare or finance, either those entities themselves or the people that control them. It could pose some disquieting perturbations on the rest of our lives.”

Wilczek’s particularly concerned about a subset of artificial intelligence: drone warriors. “Not necessarily robots,” Wilczek told me, “although robot warriors could be a big issue, too. It could just be superintelligence that’s in a cloud. It doesn’t have to be embodied in the usual sense.”

it’s important not to anthropomorphize artificial intelligence. It's best to think of it as a primordial force of nature—strong and indifferent. In the case of chess, an A.I. models chess moves, predicts outcomes, and moves accordingly. If winning at chess meant destroying humanity, it might do that.

Even if programmers tried to program an A.I. to be benevolent, it could destroy us inadvertently. Andersen’s example in Aeon is that an A.I. designed to try and maximize human happiness might think that flooding your bloodstream with heroin is the best way to do that.

“It’s not clear how big the storm will be, or how long it’s going to take to get here. I don’t know. It might be 10 years before there’s a real problem. It might be 20, it might be 30. It might be five. But it’s certainly not too early to think about it, because the issues to address are only going to get more complex as the systems get more self-willed.”

Even within A.I. research, Tegmark admits, “There is absolutely not a consensus that we should be concerned about this.” But there is a lot of concern, and sense of lack of power. Because, concretely, what can you do? “The thing we should worry about is that we’re not worried.”

Tegmark brings it to Earth with a case-example about purchasing a stroller: If you could spend more for a good one or less for one that “sometimes collapses and crushes the baby, but nobody’s been able to prove that it is caused by any design flaw. But it’s 10 percent off! So which one are you going to buy?”

“There are seven billion of us on this little spinning ball in space. And we have so much opportunity," Tegmark said. "We have all the resources in this enormous cosmos. At the same time, we have the technology to wipe ourselves out.”

Ninety-nine percent of the species that have lived on Earth have gone extinct; why should we not? Seeing the biggest picture of humanity and the planet is the heart of this. It’s not meant to be about inspiring terror or doom. Sometimes that is what it takes to draw us out of the little things, where in the day-to-day we lose sight of enormous potentials.

We can't employ an entirely programmatic approach to human affairs. However well we think we might be embedding our technologies with the values we hope to express, more often than not we also get unexpected consequences.

Still, we can't help but do a bit of evil when we build technology upon technology, without taking a pause to ask what it's all for. New technologies give us the opportunity to reevaluate the systems we have been using up until now, and consider doing things differently.

our best Stanford computer science graduates end up writing algorithms that better extract money from the stock market, rather than exploring whether capital is even serving its original purpose of getting funds to new businesses.

When we develop technology in a vacuum, disconnected from the reality in which people really live, we are too likely to spend our energy designing some abstract vision of a future life rather than addressing the pains and injustices around us right now. Technology becomes a way of escaping the world's problems, whether through virtual reality or massive Silicon Valley stock options packages, rather than engaging with them.

. It's not enough to computerize and digitize the society we have, and exacerbate its problems by new means. We must transcend the mere avoidance of the patently evil and instead seek to do good. That may involve actually overturning and remaking some institutions and processes from the ground up. That's the real potential of digital technology. To retrieve the values and ideas that may have seemed impossible before and see whether we can realize them today in this very new world.

Western philosophy thus sprang from a dualism between the intellectual senses, crowned by sight, and the lower “animal” senses, stigmatized by touch.

opto-centrism prevailed for over 2,000 years, culminating in our contemporary culture of digital simulation and spectacle. The eye continues to rule in what Roland Barthes once called our “civilization of the image.” The world is no longer our oyster, but our screen.

our current technology is arguably exacerbating our carnal alienation. While offering us enormous freedoms of fantasy and encounter, digital eros may also be removing us further from the flesh

The move toward excarnation is apparent in what is becoming more and more a fleshless society. In medicine, “bedside manner” and hand on pulse has ceded to the anonymous technologies of imaging in diagnosis and treatment. In war, hand-to-hand combat has been replaced by “targeted killing” via remote-controlled drones.

certain cyber engineers now envisage implanting transmission codes in brains so that we will not have to move a finger — or come into contact with another human being — to get what we want.

We need to return from head to foot, from brain to fingertip, from iCloud to earth. To close the distance, so that eros is more about proximity than proxy. So that soul becomes flesh, where it belongs. Such a move, I submit, would radically alter our “sense” of sex in our digital civilization. It would enhance the role of empathy, vulnerability and sensitivity in the art of carnal love, and ideally, in all of human relations. Because to love or be loved truly is to be able to say, “I have been touched.”

He tries to break free of narrow specialization and cross the boundaries between scientific disciplines. Expeditions beyond economics’ borders and its connection to history, philosophy, psychology, and ancient myths are not only refreshing, but necessary for understanding the world of the twenty-first century.

Reality is spun from stories, not from material. Zdeněk Neubauer

Before it was emancipated as a field, economics lived happily within subsets of philosophy—ethics, for example—miles away from today’s concept of economics as a mathematical-allocative science that views “soft sciences” with a scorn born from positivistic arrogance. But our thousand-year “education” is built on a deeper, broader, and oftentimes more solid base. It is worth knowing about.

The study of the history of a certain field is not, as is commonly held, a useless display of its blind alleys or a collection of the field’s trials and errors (until we got it right), but history is the fullest possible scope of study of a menu that the given field can offer.

History of thought helps us to get rid of the intellectual brainwashing of the age, to see through the intellectual fashion of the day, and to take a couple of steps back.

“The separation between the history of a science, its philosophy, and the science itself dissolves into thin air, and so does the separation between science and non-science; differences between the scientific and unscientific are vanishing.”

we seek to chart the development of the economic ethos. We ask questions that come before any economic thinking can begin—both philosophically and, to a degree, historically. The area here lies at the very borders of economics—and often beyond. We may refer to this as protoeconomics (to borrow a term from protosociology) or, perhaps more fittingly, metaeconomics (to borrow a term from metaphysics).

stories; Adam Smith believed. As he puts it in The Theory of Moral Sentiments, “the desire of being believed, or the desire of persuading, of leading and directing other people, seems to be one of the strongest of all our natural desires.”

“The human mind is built to think in terms of narratives … in turn, much of human motivation comes from living through a story of our lives, a story that we tell to ourselves and that creates a framework of our motivation. Life could be just ‘one damn thing after another’ if it weren’t for such stories. The same is true for confidence in a nation, a company, or an institution. Great leaders are foremost creators of stories.”

contrary to what our textbooks say, economics is predominantly a normative field. Economics not only describes the world but is frequently about how the world should be (it should be effective, we have an ideal of perfect competition, an ideal of high-GDP growth in low inflation, the effort to achieve high competitiveness …). To this end, we create models, modern parables,

I will try to show that mathematics, models, equations, and statistics are just the tip of the iceberg of economics; that the biggest part of the iceberg of economic knowledge consists of everything else; and that disputes in economics are rather a battle of stories and various metanarratives than anything else.

That is the reason for this book: to look for economic thought in ancient myths and, vice versa, to look for myths in today’s economics.

is a paradox that a field that primarily studies values wants to be value-free. One more paradox is this: A field that believes in the invisible hand of the market wants to be without mysteries.

The History of Animal Spirits: Dreams Never Sleep

The more important elements of a culture or field of inquiry such as economics are found in fundamental assumptions that adherents of all the various systems within the epoch unconsciously presuppose. Such assumptions appear so obvious that people do not know what they are assuming, because no other way of putting things has ever occurred to them, as the philosopher Alfred Whitehead notes in Adventures of Ideas.

I argue that economic questions were with mankind long before Adam Smith. I argue that the search for values in economics did not start with Adam Smith but culminated with him.

We should go beyond economics and study what beliefs are “behind the scenes,” ideas that have often become the dominant yet unspoken assumptions in our theories. Economics is surprisingly full of tautologies that economists are predominantly unaware of. I

argue that economics should seek, discover, and talk about its own values, although we have been taught that economics is a value-free science. I argue that none of this is true and that there is more religion, myth, and archetype in economics than there is mathematics.

In a way, this is a study of the evolution of both homo economicus and, more importantly, the history of the animal spirits within him. This book tries to study the evolution of the rational as well as the emotional and irrational side of human beings.

I argue that his most influential contribution to economics was ethical. His other thoughts had been clearly expressed long before him, whether on specialization, or on the principle of the invisible hand of the market. I try to show that the principle of the invisible hand of the market is much more ancient and developed long before Adam Smith. Traces of it appear even in the Epic of Gilgamesh, Hebrew thought, and in Christianity, and it is expressly stated by Aristophanes and Thomas Aquinas.

This is not a book on the thorough history of economic thought. The author aims instead to supplement certain chapters on the history of economic thought with a broader perspective and analysis of the influences that often escape the notice of economists and the wider public.

Progress (Naturalness and Civilization)

The Economy of Good and Evil

from his beginnings, man has been marked as a naturally unnatural creature, who for unique reasons surrounds himself with external possessions. Insatiability, both material and spiritual, are basic human metacharacteristics, which appear as early as the oldest myths and stories.

the Hebrews, with linear time, and later the Christians gave us the ideal (or amplified the Hebrew ideal) we now embrace. Then the classical economists secularized progress. How did we come to today’s progression of progress, and growth for growth’s sake?

The Need for Greed: The History of Consumption and Labor

Metamathematics From where did economics get the concept of numbers as the very foundation of the world?

mathematics at the core of economics, or is it just the icing of the cake, the tip of the iceberg of our field’s inquiry?

idea that we can manage to utilize our natural egoism, and that this evil is good for something, is an ancient philosophical and mythical concept. We will also look into the development of the ethos of homo economicus, the birth of “economic man.”

All of economics is, in the end, economics of good and evil. It is the telling of stories by people of people to people. Even the most sophisticated mathematical model is, de facto, a story, a parable, our effort to (rationally) grasp the world around us.

Masters of the Truth

Originally, truth was a domain of poems and stories, but today we perceive truth as something much more scientific, mathematical. Where does one go (to shop) for the truth? And who “has the truth” in our epoch?

Our animal spirits (something of a counterpart to rationality) are influenced by the archetype of the hero and our concept of what is good.

The entire history of ethics has been ruled by an effort to create a formula for the ethical rules of behavior. In the final chapter we will show the tautology of Max Utility, and we will discuss the concept of Max Good.

The History of the Invisible Hand of the Market and Homo Economicus

We understand “economics” to mean a broader field than just the production, distribution, and consumption of goods and services. We consider economics to be the study of human relations that are sometimes expressible in numbers, a study that deals with tradables, but one that also deals with nontradables (friendship, freedom, efficiency, growth).

When we mention economics in this book, we mean the mainstream perception of it, perhaps as best represented by Paul Samuelson.

By the term homo economicus, we mean the primary concept of economic anthropology. It comes from the concept of a rational individual, who, led by narrowly egotistical motives, sets out to maximize his benefit.

the Epic of Gilgamesh bears witness to the opposite—despite the fact that the first written clay fragments (such as notes and bookkeeping) of our ancestors may have been about business and war, the first written story is mainly about great friendship and adventure.

is a story of nature and civilization, of heroism, defiance, and the battle against the gods, and evil; an epic about wisdom, immortality, and also futility.

Even today we live in Gilgamesh’s vision that human relations—and therefore humanity itself—are a disturbance to work and efficiency; that people would perform better if they did not “waste” their time and energy on nonproductive things.

But it is in friendship where—often by-the-way, as a side product, an externality—ideas and deeds are frequently performed or created that together can altogether change the face of society.19 Friendship can go against an ingrained system in places where an individual does not have the courage to do so himself or herself.

started with Babylonians—rural nature becomes just a supplier of raw materials, resources (and humans the source of human resources). Nature is not the garden in which humans were created and placed, which they should care for and which they should reside in, but becomes a mere reservoir for natural (re)sources.

To be human seems to be somewhere in between, or both of these two. We

The entire history of culture is dominated by an effort to become as independent as possible from the whims of nature.39 The more developed a civilization is, the more an individual is protected from nature and natural influences and knows how to create around him a constant or controllable environment to his liking.

The epic captures one of the greatest leaps in the development of the division of labor. Uruk itself is one of the oldest cities of all, and in the epic it reflects a historic step forward in specialization—in the direction of a new social city arrangement. Because of the city wall, people in the city can devote themselves to things other than worrying about their own safety, and they can continue to specialize more deeply.

“The chief thing which the common-sense individual wants is not satisfactions for the wants he had, but more, and better wants.”47

If a consumer buys something, theoretically it should rid him of one of his needs—and the aggregate of things they need should be decreased by one item. In reality, though, the aggregate of “I want to have” expands together with the growing aggregate of “I have.”

the Old Testament, this relationship is perceived completely differently. Man (humanity) is created in nature, in a garden. Man was supposed to care for the Garden of Eden and live in harmony with nature and the animals. Soon after creation, man walks naked and is not ashamed, de facto the same as the animals. What is characteristic is that man dresses (the natural state of creation itself is not enough for him), and he (literally and figuratively) covers52 himself—in shame after the fall.53

Nature is where one goes to hunt, collect crops, or gather the harvest. It is perceived as the saturator of our needs and nothing more. One goes back to the city to sleep and be “human.” On the contrary, evil resides in nature. Humbaba lives in the cedar forest, which also happens to be the reason to completely eradicate it.

Symbolically, then, we can view the entire issue from the standpoint of the epic in the following way: Our nature is insufficient, bad, evil, and good (humane) occurs only after emancipation from nature (from naturalness), through culturing and education. Humanity is considered as being in civilization.

The city was frequently (at least in older Jewish writings) a symbol of sin, degeneration, and decadence—nonhumanity. The Hebrews were originally a nomadic nation, one that avoided cities. It is no accident that the first important city57 mentioned in the Bible is proud Babylon,58 which God later turns to dust.

is enough, for example, to read the Book of Revelation to see how the vision of paradise developed from the deep Old Testament period, when paradise was a garden. John describes his vision of heaven as a city—paradise is in New Jerusalem, a city where the dimensions of the walls(!) are described in detail, as are the golden streets and gates of pearl.

Hebrews later also chose a king (despite the unanimous opposition of God’s prophets) and settled in cities, where they eventually founded the Lord’s Tabernacle and built a temple for Him. The city of Jerusalem later gained an illustrious position in all of religion.

this time Christianity (as well as the influence of the Greeks) does not consider human naturalness to be an unambiguous good, and it does not have such an idyllic relationship to nature as the Old Testament prophets.

If a tendency toward good is not naturally endowed in people, it must be imputed from above through violence or at least the threat of violence.

If we were to look at human naturalness as a good, then collective social actions need a much weaker ruling hand. If people themselves have a natural tendency (propensity) toward good, this role does not have to be supplied by the state, ruler, or, if you wish, Leviathan.

How does this affect economics?

us return for the last time to the humanization of the wild Enkidu, which is a process we can perceive with a bit of imagination as the first seed of the principle of the market’s invisible hand, and therefore the parallels with one of the central schematics of economic thinking.

Sometimes it is better to “harness the devil to the plow” than to fight with him. Instead of summoning up enormous energy in the fight against evil, it is better to use its own energy to reach a goal we desire; setting up a mill on the turbulent river instead of futile efforts to remove the current. This is also how Saint Prokop approached it in one of the oldest Czech legends.

Enkidu caused damage and it was impossible to fight against him. But with the help of a trap, trick, this evil was transformed into something that greatly benefited civilization.

By culturing and “domesticating” Enkidu, humanity tamed the uncontrollable wild and chaotic evil

Enkidu devastated the doings (the external, outside-the-walls) of the city. But he was later harnessed and fights at the side of civilization against nature, naturalness, the natural state of things.

A similar story (reforming something animally wild and uncultivated in civilizational achievement) is used by Thomas Aquinas in his teachings. Several centuries later, this idea is fully emancipated in the hands of Bernard Mandeville and his Fable of the Bees: or, Private Vices, Publick Benefits. The economic and political aspects of this idea are—often incorrectly—ascribed to Adam Smith.

Here the individual does not try anymore to maximize his goods or profits, but what is important is writing his name in human memory in the form of heroic acts or deeds.

immortality, one connected with letters and the cult of the word: A name and especially a written name survives the body.”77

After this disappointment, he comes to the edge of the sea, where the innkeeper Siduri lives. As tonic for his sorrow, she offers him the garden of bliss, a sort of hedonistic fortress of carpe diem, where a person comes to terms with his mortality and at least in the course of the end of his life maximizes earthly pleasures, or earthly utility.

In the second stage, after finding his friend Enkidu, Gilgamesh abandons the wall and sets out beyond the city to maximalize heroism. “In his (…) search of immortal life, Gilgamesh

The hero refuses hedonism in the sense of maximizing terrestrial pleasure and throws himself into things that will exceed his life. In the blink of an eye, the epic turns on its head the entire utility maximization role that mainstream economics has tirelessly tried to sew on people as a part of their nature.81

today remember Gilgamesh for his story of heroic friendship with Enkidu, not for his wall, which no longer reaches monumental heights.

the eleventh and final tablet, Gilgamesh again loses what he sought. Like Sisyphus, he misses his goal just before the climax

The very existence of questions similar to today’s economic ones can be considered as the first observation. The first written considerations of the people of that time were not so different from those today. In other words: The epic is understandable for us, and we can identify with it.

We have also been witnesses to the very beginnings of man’s culturing—a great drama based on a liberation and then a distancing from the natural state.

Let us take this as a memento in the direction of our restlessness, our inherited dissatisfaction and the volatility connected to it. Considering that they have lasted five thousand years and to this day we find ourselves in harmony with a certain feeling of futility, perhaps these characteristics are inherent in man.

with the phenomenon of the creation of the city, we have seen how specialization and the accumulation of wealth was born, how holy nature was transformed into a secular supplier of resources, and also how humans’ individualistic ego was emancipated.

For small acts (hunting together, work in a factory), small love is enough: Camaraderie. For great acts, however, great love is necessary, real love: Friendship. Friendship that eludes the economic understanding of quid pro quo. Friendship gives. One friend gives (fully) for the other. That is friendship for life and death,

less a civilized, city person is dependent on nature, the more he or she is dependent on the rest of society. Like Enkidu, we have exchanged nature for society; harmony with (incalculable) nature for harmony with (incalculable) man.

human nature good or evil? To this day these questions are key for economic policy: If we believe that man is evil in his nature, therefore that a person himself is dog eat dog (animal), then the hard hand of a ruler is called for. If we believe that people in and of themselves, in their nature, gravitate toward good, then it is possible to loosen up the reins and live in a society that is more laissez-faire.

For a concept of historical progress, for the undeification of heroes, rulers, and nature, mankind had to wait for the Hebrews.

Because nature is not undeified, it is beyond consideration to explore it, let alone intervene in it (unless a person was a two-thirds god like Gilgamesh). It

As early as the “dark” ages, the Jews commonly used economic tools that were in many ways ahead of their time and that later became key elements of the modern economy:

Gilgamesh’s story ends where it began. There is a consistency in this with Greek myths and fables: At the end of the story, no progress occurs, no essential historic change; the story is set in indefinite time, something of a temporal limbo.

For a nation originally based on nomadism, where did this Jewish business ethos come from? And can the Hebrews truly be considered as the architects of the values that set the direction of our civilization’s economic thought?

PROGRESS: A SECULARIZED RELIGION One of the things the writers of the Old Testament gave to mankind is the idea and notion of progress. The Old Testament stories have their development; they change the history of the Jewish nation and tie in to each other. The Jewish understanding of time is linear—it has a beginning and an end.

The observance of God’s Commandments in Judaism leads not to some ethereal other world, but to an abundance of material goods (Genesis 49:25–26, Leviticus 26:3–13, Deuteronomy 28:1–13) (…) There are no accusing fingers pointed at

There are no echoes of asceticism nor for the cleansing and spiritual effect of poverty. It is fitting therefore, that the founders of Judaism, the Patriarchs Abraham, Isaac and Jacob, were all wealthy men.12

about due to a linear understanding of history. If history has a beginning as well as an end, and they are not the same point, then exploration suddenly makes sense in areas where the fruits are borne only in the next generation.

however, the idea of progress itself underwent major changes, and today we perceive it very differently. As opposed to the original spiritual conceptions, today we perceive progress almost exclusively in an economic or scientific-technological sense.

Because care for the soul has today been replaced by care for external things,

This is why we must constantly grow, because we (deep down and often implicitly) believe that we are headed toward an (economic) paradise on Earth.

Only since the period of scientific-technological revolution (and at a time when economics was born as an independent field) is material progress automatically assumed.

Jewish thought is the most grounded, most realistic school of thought of all those that have influenced our culture.17 An abstract world of ideas was unknown to the Jews. To this day it is still forbidden to even depict God, people, and animals in symbols, paintings, statues, and drawings.

economists have become key figures of great importance in our time (Kacířské eseje o filosofii dějin [Heretical Essays in the Philosophy of History]). They are expected to perform interpretations of reality, give prophetic services (macroeconomic forecasts), reshape reality (mitigate the impacts of the crisis, speed up growth), and, in the long run, provide leadership on the way to the Promised Land—paradise on Earth.

REALISM AND ANTIASCETICISM Aside from ideas of progress, the Hebrews brought another very fundamental contribution to our culture: The desacralization of heroes, nature, and rulers.

Voltaire writes: “It certain fact is, that in his public laws he [Moses] never so much as once made mention of a life to come, limiting all punishments and all rewards to the present life.”21

As opposed to Christianity, the concept of an extraterrestrial paradise or heaven was not developed much in Hebrew thought.19 The paradise of the Israelites—Eden—was originally placed on Earth at a given place in Mesopotamia20 and at a given time,

The Hebrews consider the world to be real—not just a shadow reflection of a better world somewhere in the cloud of ideas, something the usual interpretation of history ascribes to Plato. The soul does not struggle against the body and is not its prisoner, as Augustine would write later.

The land, the world, the body, and material reality are for Jews the paramount setting for divine history, the pinnacle of creation. This idea is the conditio sine qua non of the development of economics, something of an utterly earthly making,

The mythology of the hero-king was strongly developed in that period, which Claire Lalouette summarizes into these basic characteristics: Beauty (a perfect face, on which it is “pleasant to look upon,” but also “beauty,” expressed in the Egyptian word nefer, not only means aesthetics, but contains moral qualities as well),

THE HERO AND HIS UNDEIFICATION: THE DREAM NEVER SLEEPS The concept of the hero is more important than it might appear. It may be the remote origin of Keynes’s animal spirits, or the desire to follow a kind of internal archetype that a given individual accepts as his own and that society values.

This internal animator of ours, our internal mover, this dream, never sleeps and it influences our behavior—including economic behavior—more than we want to realize.

Anthropology knows several archetypes of heroes. The Polish-born American anthropologist Paul Radin examined the myths of North American Indians and, for example, in his most influential book, The Trickster, he describes their four basic archetypes of heroes.

The Torah’s heroes (if that term can be used at all) frequently make mistakes and their mistakes are carefully recorded in the Bible—maybe precisely so that none of them could be deified.32

the Hebrew heroes correspond most to the Tricksters, the Culture Bearers, and the Twins. The divine muscleman, that dominant symbol we think of when we say hero, is absent here.

Undeification, however, does not mean a call to pillage or desecration; man was put here to take care of nature (see the story of the Garden of Eden or the symbolism of the naming of the animals). This protection and care of nature is also related to the idea of progress

For the heroes who moved our civilization to where it is today, the heroic archetypes of the cunning trickster, culture bearer, and sufferer are rather more appropriate.

the Old Testament strongly emphasizes the undeification of nature.37 Nature is God’s creation, which speaks of divinity but is not the domain of moody gods

in an Old Testament context, the pharaoh was a mere man (whom one could disagree with, and who could be resisted!).

RULERS ARE MERE MEN In a similar historical context, the Old Testament teachings carried out a similar desacralization of rulers, the so-called bearers of economic policy.

Ultimately the entire idea of a political ruler stood against the Lord’s will, which is explicitly presented in the Torah. The Lord unequivocally preferred the judge as the highest form of rule—an

The needs of future generations will have to be considered; after all humankind are the guardians of God’s world. Waste of natural resources, whether privately owned or nationally owned is forbidden.”39

Politics lost its character of divine infallibility, and political issues were subject to questioning. Economic policy could become a subject of examination.

44 God first creates with the word and then on individual days He divides light from darkness, water from dry land, day from night, and so forth—and He gives order to things.45 The world is created orderly— it is wisely, reasonably put together. The way of the world is put together at least partially46 decipherably by any other wise and reasonable being who honors rational rules.

THE PRAISE OF ORDER AND WISDOM: MAN AS A PERFECTER OF CREATION The created world has an order of sorts, an order recognizable by us as people,

From the very beginning, when God distances Himself from the entire idea, there is an anticipation that there is nothing holy, let alone divine, in politics. Rulers make mistakes, and it is possible to subject them to tough criticism—which frequently occurs indiscriminately through the prophets in the Old Testament.

Hebrew culture laid the foundations for the scientific examination of the world.

Examining the world is therefore an absolutely legitimate activity, and one that is even requested by God—it is a kind of participation in the Creator’s work.51 Man is called on to understand himself and his surroundings and to use his knowledge for good.

The Book of Proverbs emphasizes specifically several times that it was wisdom that was present at the creation of the world. Wisdom personified calls out:

The last act, final stroke of the brush of creation, naming of the animals—this act is given to a human, it is not done by God, as one would expect. Man was given the task of completing the act of creation that the Lord began:

MAN AS A FINISHER OF CREATION The creation of the world, as it is explained in Jewish teachings, is described in the Book of Genesis. Here God (i) creates, (ii) separates, and (iii) names [my emphasis]:

Naming is a symbolic expression. In Jewish culture (and also in our culture to this day), the right to name meant sovereign rights and belonged, for example, to explorers (new places), inventors (new principles), or parents (children)—that is, to those who were there at the genesis, at the origin. This right was handed over by God to mankind.

The Naming itself (the capital N is appropriate) traditionally belongs to the crowning act of the Creator and represents a kind of grand finale of creation, the last move of the brush to complete the picture—a signature of the master.

Without naming, reality does not exist; it is created together with language. Wittgenstein tightly names this in his tractatus—the limits of our language are the limits of our world.53

Reality is not a given; it is not passive. Perceiving reality and “facts” requires man’s active participation. It is man who must take the last step, an act (and we

A real-ization act on our part represents the creation of a construct, the imputation of sense and order (which is beautifully expressed by the biblical act of naming, or categorization, sorting, ordering).

God connects man with the task of guarding and protecting the Garden of Eden, and thus man actually cocreates the cultural landscape. The Czech philosopher Zdeněk Neubauer also describes this: “Such is reality, and it is so deep that it willingly crystallizes into worlds. Therefore I profess that reality is a creation and not a place of occurrence for objectively given phenomena.”61

The Jews believed the exact opposite. The world is created by a good God, and evil appears in it as a result of immoral human acts. Evil, therefore, is induced by man.66 History unwinds according to the morality of human acts.

GOOD AND EVIL IN US: A MORAL EXPLANATION OF WELL-BEING We have seen that in the Epic of Gilgamesh, good and evil are not yet addressed systematically on a moral level.

the epic, good and evil are not envisaged morally—they are not the result of an (a)moral act. Evil was not associated with free moral action or individual will.

Hebrew thought, on the other hand, deals intensively with moral good and evil. A moral dimension touches the core of its stories.65

discrepancy between savings and investment, and others are convinced of the monetary essence

The entire history of the Jewish nation is interpreted and perceived in terms of morality. Morality has become, so to speak, a mover and shaker of Hebrew history.

sunspots. The Hebrews came up with the idea that morals were behind good and bad years, behind the economic cycle. But we would be getting ahead of ourselves. Pharaoh’s Dream: Joseph and the First Business Cycle To

It is the Pharaoh’s well-known dream of seven fat and seven lean cows, which he told to Joseph, the son of Jacob. Joseph interpreted the dream as a macroeconomic prediction of sorts: Seven years of abundance were to be followed by seven years of poverty, famine, and misery.

Self-Contradicting Prophecy Here, let’s make several observations on this: Through taxation74 on the level of one-fifth of a crop75 in good years to save the crop and then open granaries in bad years, the prophecy was de facto prevented (prosperous years were limited and hunger averted—through a predecessor of fiscal stabilization).

The Old Testament prophesies therefore were not any deterministic look into the future, but warnings and strategic variations of the possible, which demanded some kind of reaction. If the reaction was adequate, what was prophesied would frequently not occur at all.

If the threat is anticipated, it is possible to totally or at least partially avoid it. Neither Joseph nor the pharaoh had the power to avoid bounty or crop failure (in this the dream interpretation was true and the appearance of the future mystical), but they avoided the impacts and implications of the prophecy (in this the interpretation of the dream was “false”)—famine did not ultimately occur in Egypt, and this was due to the application of reasonable and very intuitive economic policy.

Let us further note that the first “macroeconomic forecast” appears in a dream.

back to Torah: Later in this story we will notice that there is no reason offered as to why the cycle occurs (that will come later). Fat years will simply come, and then lean years after them.

Moral Explanation of a Business Cycle That is fundamentally different from later Hebrew interpretations, when the Jewish nation tries to offer reasons why the nation fared well or poorly. And those reasons are moral.

Only in recent times have some currents of economics again become aware of the importance of morals and trust in the form of measuring the quality of institutions, the level of justice, business ethics, corruption, and so forth, and examining their influence on the economy,

it is not within the scope of this book to answer that question; justice has been done to the question if it manages to sketch out the main contours of possible searches for answers.

THE ECONOMICS OF GOOD AND EVIL: DOES GOOD PAY OFF? This is probably the most difficult moral problem we could ask.

Inquiring about the economics of good and evil, however, is not that easy. Where would Kant’s “moral dimension of ethics” go if ethics paid? If we do good for profit, the question of ethics becomes a mere question of rationality.

He remains righteous, even if his only reward is death. What economic advantage could he have from that?

morals cannot be considered in the economic dimension of productivity and calculus. The role of the Hebrews was to do good, whether it paid off or not. If good (outgoing) is rewarded by incoming goodness, it is a bonus,99 not a reason to do outgoing good. Good and reward do not correlate to each other.

This reasoning takes on a dimension of its own in the Old Testament. Good (incoming) has already happened to us. We must do good (outgoing) out of gratitude for the good (incoming) shown to us in the past.

So why do good? After all, suffering is the fate of many biblical figures. The answer can only be: For good itself. Good has the power to be its own reward. In this sense, goodness gets its reward, which may or may not take on a material dimension.

the Hebrews offered an interesting compromise between the teachings of the Stoics and Epicureans. We will go into it in detail later, so only briefly

constraint. It calls for bounded optimalization (with limits). A kind of symbiosis existed between the legitimate search for one’s own utility (or enjoyment of life) and maintaining rules, which are not negotiable and which are not subject to optimalization.

In other words, clear (exogenously given) rules exist that must be observed and cannot be contravened. But within these borders it is absolutely possible, and even recommended, to increase utility.

To Love the Law The Jews not only had to observe the law (perhaps the word covenant would be more appropriate), but they were to love it because it was good.

the principle of doing good (outgoing) on the basis of a priori demonstrated good (incoming) was also taken over by the New Testament. Atonement itself is based on an a priori principle; all our acts are preceded by good.

THE SHACKLES OF THE CITY Owing to the Hebrew’s liberation from Egyptian slavery, freedom and responsibility become the key values of Jewish thought.

Laws given by God are binding for Jews, and God is the absolute source of all values,

The Hebrew ideal is represented by the paradise of the Garden of Eden, not a city.116 The despised city civilization or the tendency to see in it a sinful and shackling way of life appears in glimpses and allusions in many places in the Old Testament.

The nomadic Jewish ethos is frequently derived from Abraham, who left the Chaldean city of Ur on the basis of a command:

This way of life had understandably immense economic impacts. First, such a society lived in much more connected relationships, where there was no doubt that everyone mutually depended on each other. Second, their frequent wanderings meant the inability to own more than they could carry; the gathering up of material assets did not have great weight—precisely because the physical weight (mass) of things was tied to one place.

One of Moses’s greatest deeds was that he managed to explain to his nation once and for all that it is better to remain hungry and liberated than to be a slave with food “at no cost.”

SOCIAL WELFARE: NOT TO ACT IN THE MANNER OF SODOM

regulations is developed in the Old Testament, one we hardly find in any other nation of the time. In Hebrew teachings, aside from individual utility, indications of the concept of maximalizing utility societywide appear for the first time as embodied in the Talmudic principle of Kofin al midat S´dom, which can be translated as “one is compelled not to act in the manner of Sodom” and to take care of the weaker members of society.

In a jubilee year, debts were to be forgiven,125 and Israelites who fell into slavery due to their indebtedness were to be set free.126

Land at the time could be “sold,” and it was not sale, but rent. The price (rent) of real estate depended on how long there was until a forgiveness year. It was about the awareness that we may work the land, but in the last instance we are merely “aliens and strangers,” who have the land only rented to us for a fixed time. All land and riches came from the Lord.

These provisions express a conviction that freedom and inheritance should not be permanently taken away from any Israelite. Last but not least, this system reminds us that no ownership lasts forever and that the fields we plow are not ours but the Lord’s.

Glean Another social provision was the right to glean, which in Old Testament times ensured at least basic sustenance for the poorest. Anyone who owned a field had the responsibility not to harvest it to the last grain but to leave the remains in the field for the poor.

Tithes and Early Social Net Every Israelite also had the responsibility of levying a tithe from their entire crop. They had to be aware from whom all ownership comes and, by doing so, express their thanks.

“Since the community has an obligation to provide food, shelter, and basic economic goods for the needy, it has a moral right and duty to tax its members for this purpose. In line with this duty, it may have to regulate markets, prices and competition, to protect the interests of its weakest members.”135

In Judaism, charity is not perceived as a sign of goodness; it is more of a responsibility. Such a society then has the right to regulate its economy in such a way that the responsibility of charity is carried out to its satisfaction.

With a number of responsibilities, however, comes the difficulty of getting them into practice. Their fulfillment, then, in cases when it can be done, takes place gradually “in layers.” Charitable activities are classified in the Talmud according to several target groups with various priorities, classified according to, it could be said, rules of subsidiarity.

Do not mistreat an alien or oppress him, for you were aliens in Egypt.140 As one can see, aside from widows and orphans, the Old Testament also includes immigrants in its area of social protection.141 The Israelites had to have the same rules apply for them as for themselves—they could not discriminate on the basis of their origin.

ABSTRACT MONEY, FORBIDDEN INTEREST, AND OUR DEBT AGE If it appears to us that today’s era is based on money and debt, and our time will be written into history as the “Debt age,” then it will certainly be interesting to follow how this development occurred.

Money is a social abstractum. It is a social agreement, an unwritten contract.

The first money came in the form of clay tablets from Mesopotamia, on which debts were written. These debts were transferable, so the debts became currency. In the end, “It is no coincidence that in English the root of ‘credit’ is ‘credo,’ the Latin for ‘I believe.’”

To a certain extent it could be said that credit, or trust, was the first currency. It can materialize, it can be embodied in coins, but what is certain is that “money is not metal,” even the rarest metal, “it is trust inscribed,”

Inseparably, with the original credit (money) goes interest. For the Hebrews, the problem of interest was a social issue: “If you lend money to one of my people among you who is needy, do not be like a moneylender; charge him no interest.”

there were also clearly set rules setting how far one could go in setting guarantees and the nonpayment of debts. No one should become indebted to the extent that they could lose the source of their livelihood:

In the end, the term “bank” comes from the Italian banci, or the benches that Jewish lenders sat on.157

Money is playing not only its classical roles (as a means of exchange, a holder of value, etc.) but also a much greater, stronger role: It can stimulate, drive (or slow down) the whole economy. Money plays a national economic role.

In the course of history, however, the role of loans changed, and the rich borrowed especially for investment purposes,

In such a case a ban on interest did not have great ethical significance. Thomas Aquinas, a medieval scholar (1225-1274), also considers similarly; in his time, the strict ban on lending with usurious interest was loosened, possibly due to him.

As a form of energy, money can travel in three dimensions, vertically (those who have capital lend to those who do not) and horizontally (speed and freedom in horizontal or geographic motion has become the by-product—or driving force?—of globalization). But money (as opposed to people) can also travel through time.

money is something like energy that can travel through time. And it is a very useful energy, but at the same time very dangerous as well. Wherever

Aristotle condemned interest162 not only from a moral standpoint, but also for metaphysical reasons. Thomas Aquinas shared the same fear of interest and he too argued that time does not belong to us, and that is why we must not require interest.

MONEY AS ENERGY: TIME TRAVEL AND GROSS DEBT PRODUCT (GDP)

Due to this characteristic, we can energy-strip the future to the benefit of the present. Debt can transfer energy from the future to the present.163 On the other hand, saving can accumulate energy from the past and send it to the present.

labor was not considered degrading in the Old Testament. On the contrary, the subjugation of nature is even a mission from God that originally belonged to man’s very first blessings.

LABOR AND REST: THE SABBATH ECONOMY

The Jews as well as Aristotle behaved very guardedly toward loans. The issue of interest/usury became one of the first economic debates. Without having an inkling of the future role of economic policy (fiscal and monetary), the ancient Hebrews may have unwittingly felt that they were discovering in interest a very powerful weapon, one that can be a good servant, but (literally) an enslaving master as well.

It’s something like a dam. When we build one, we are preventing periods of drought and flooding in the valley; we are limiting nature’s whims and, to a large extent, avoiding its incalculable cycles. Using dams, we can regulate the flow of water to nearly a constant. With it we tame the river (and we can also gain

But if we do not regulate the water wisely, it may happen that we would overfill the dam and it would break. For the cities lying in the valley, their end would be worse than if a dam were never there.

If man lived in harmony with nature before, now, after the fall, he must fight; nature stands against him and he against it and the animals. From the Garden we have moved unto a (battle)field.

Only after man’s fall does labor turn into a curse.168 It could even be said that this is actually the only curse, the curse of the unpleasantness of labor, that the Lord places on Adam.

Both Plato and Aristotle consider labor to be necessary for survival, but that only the lower classes should devote themselves to it so that the elites would not have to be bothered with it and so that they could devote themselves to “purely spiritual matters—art, philosophy, and politics.”

Work is also not only a source of pleasure but a social standing; It is considered an honor. “Do you see a man skilled in his work? He will serve before kings.”170 None of the surrounding cultures appreciate work as much. The idea of the dignity of labor is unique in the Hebrew tradition.

Hebrew thinking is characterized by a strict separation of the sacred from the profane. In life, there are simply areas that are holy, and in which it is not allowed to economize, rationalize, or maximize efficiency.

the message of the commandment on Saturday communicated that people were not primarily created for labor.

This dimension has disappeared from today’s economics. Economic effort has no goal at which it would be possible to rest. Today we only know growth for growth’s sake, and if our company or country prospers, that does not…

the purpose of creation was not just creating but that it had an end, a goal. The process was just a process, not a purpose. The whole of Being was created so…

ancient Greek economic ethos, we will examine two extreme approaches to laws and rules. While the Stoics considered laws to be absolutely valid, and utility had infinitesimal meaning in their philosophy, the Epicureans, at least in the usual historical explanation, placed utility and pleasure in first place—rules were to be made based on the principle of utility.

CONCLUSION: BETWEEN UTILITY AND PRINCIPLE The influence of Jewish thought on the development of market democracy cannot be overestimated. The key heritage for us was the lack of ascetic perception of the world, respect to law and private…